Western Asset High Income Fund II (NYSE:HIX) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

Western Asset High Income Fund II Inc. (NYSE:HIX) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $3.96 and traded as low as $3.93. Western Asset High Income Fund II shares last traded at $3.9850, with a volume of 587,940 shares trading hands.

Western Asset High Income Fund II Stock Performance

The business has a 50 day moving average of $3.96 and a 200-day moving average of $4.05.

Western Asset High Income Fund II Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.049 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 14.8%.

Institutional Investors Weigh In On Western Asset High Income Fund II

A number of hedge funds and other institutional investors have recently made changes to their positions in HIX. Comerica Bank lifted its position in Western Asset High Income Fund II by 134.1% in the 1st quarter. Comerica Bank now owns 9,369 shares of the closed-end fund’s stock valued at $39,000 after acquiring an additional 5,367 shares in the last quarter. Jane Street Group LLC bought a new position in Western Asset High Income Fund II during the 1st quarter worth about $64,000. Cetera Investment Advisers increased its holdings in Western Asset High Income Fund II by 4.9% during the 2nd quarter. Cetera Investment Advisers now owns 67,237 shares of the closed-end fund’s stock worth $288,000 after purchasing an additional 3,112 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Western Asset High Income Fund II by 288.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 11,531 shares of the closed-end fund’s stock valued at $49,000 after purchasing an additional 8,562 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of Western Asset High Income Fund II in the 3rd quarter valued at about $45,000.

Western Asset High Income Fund II Company Profile

Western Asset High Income Fund II (NYSE: HIX) is a closed-end management investment company that seeks to provide high current income by investing primarily in below-investment-grade debt instruments. The fund pursues a diversified portfolio of high-yield corporate bonds, senior loans, mortgage- and asset-backed securities, and emerging-market debt, aiming to generate attractive yield while managing credit and interest rate risk.

The fund may employ leverage through borrowings and the issuance of preferred shares to enhance its income potential.